Advice please Home insurance renewal problem

franklmp

My Buildings and contents insurance is due for renewal 22/2/2010. I today received a letter from a finance company that my brokers have requested a running credit facility. I called the brokers and explained that i have not received a renewal notice from them. I was told that they had the renewal notice retuned to them today as undelivered (what a suprise) and they are blaming the Royal Mail. i told them that i have not agreed to a renewal and they have set up a new credit agreement without my permission. The finance company have said that i will have to pay a £15 cancellation fee and £40 for a cancelled direct debit. Also the premium has gone up 30%. Any advice please

huckster

Is this for a high net worth risk, where the premium is in the thousands ?

Has there been a problem with the payments, that you have not been told about previously? Sometimes with High networth clients, they have been known not to pay their premiums on time to the broker and the Insurers get fed up with this.

If the renewal is due on 22/2/10, obviously the Insurers will want any arrears to be brought up to date and by the sounds of it, they want you agree to set up a new payment agreement (Direct Debit) from renewal.

Perhaps in the circumstances, it might be time to pay up what you owe to renewal and look to arrange Insurance elsewhere from renewal.

Chubb Insurance are very higly rated by its customers.